What is the secret behind support and resistance because sometimes it is easy to identify swing high and swing low key on some chart
I follow a channel on YouTube called RockzFX. In all of his videos, I have never heard him say the words support and resistance. Instead, calling it structural levels are more aquited. And I have most certainly taken accustom to that. You would definitely see them as support and resistance levels although when you look at them in terms of market structure, major and minor structural levels they do seem to hold more value to your analysis in some way. Key structures in the market are rather a level or a zone in which price is respecting rather than just a line. And for me thats simply a game a changer. More times than not, you would find a few or more wick rejections at those structural highs and lows which most people call support and resistance, and would often deem those levels as they are just mere lines which have been broken by wicks. When you characterise them as structural zones, they could be very much acceptable in your analysis as they are key areas in which price is respecting, breaking through or pulling back to. Notice how I’ve made mention on those “key structural areas” in different terms due to the fact that the possibilities of “Support and resistance” are quite broad if your mind is as well.
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Hi, please how can one accurately identify a confirmation candle within a short period consolidation on the higher time frame like the 1hr and 4 hour chart. for instance, when price reaches a key support or resistance level, you may see two shooting stars and a hammer and more candles with different signals. how can I identify reversal candles within this consolidation please.